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Underfloor Heating Actuator Market was valued at USD 303.8 million in 2023 and is estimated to register about 4.7% CAGR between 2024 and 2032. Increasing awareness of energy-efficient heating solutions coupled with growing requirement for more comfortable and uniform heating across residential and commercial spaces will strengthen the business landscape.
Continuous rise of smart home technologies pushing towards connected and intelligent homes along with introduction of energy efficient standards will further enhance the business scenario. For instance, introduction of the 2022 Energy Code, in California by Building Energy Efficiency Standards includes the country’s technology innovations, thereby encouraging energy efficient approaches to support building decarbonization, emphasizing particularly on the use of heat pumps for space heating and water heating.
Report Attribute | Details |
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Base Year: | 2023 |
Underfloor Heating Actuator Market Size in 2023: | USD 303.8 Million |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 4.7% |
2032 Value Projection: | USD 450.7 Million |
Historical Data for: | 2019 to 2022 |
No. of Pages: | 180 |
Tables, Charts & Figures: | 598 |
Segments covered: | Product, Application and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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The global outbreak of COVID- 19 has affected the HVAC industry on the account of supply chain disruptions, lockdown implementations and safety measures. However, increasing focus on home comfort, shifting trends toward smart buildings primarily in developing economies along with growing requirement for long-term cost-saving solutions, will contribute to the business scenario. In addition, innovation in smart home technologies in line with refurbishment and retrofitting of the existing buildings with energy-efficient systems will complement the industry outlook.
Key features comprising air purification and humidity control, growing energy demand along with the increasing consciousness of the energy consumption will increase the product adoption. Additionally, upsurge in investments made across the smart home automation systems in conjunction with manufacturers exploring innovative solutions that enhance durability, efficiency, and responsiveness will further propel the product demand.
The thermal underfloor heating actuator industry will reach USD 429 million by 2032, owing to their ability to precisely control the flow of hot water in line with features including individual room control and zoning capabilities. Ongoing research and development efforts have led to advancements in the materials and design of these equipment. Furthermore, rapid urbanization and advanced product customization combined with high requirement of constant heating in cold regions will drive the business trends.
The commercial sector is anticipated to grow at around 4% growth rate through 2032. Growing awareness of sustainability and huge focus to achieve energy savings in commercial spaces coupled with demand for smart and connected workplaces will augment the industry scenario. Paradigm shift towards energy efficiency to reduce operational costs and environmental impact in line with capability to ensure compatibility with diverse flooring materials including carpet, tile, and hardwood will stimulate the industry landscape.
Europe underfloor heating actuator market will observe gains at nearly 3.5% up to 2032. Increasing emphasis on energy-efficient solutions that reduce carbon footprint along with advancement in system that offer eco-friendly alternatives to traditional heating method will drive the business scenario. Moreover, the region’s commitment to sustainable living along with focus on development of actuators complying to European energy regulations will foster the product penetration. Furthermore, shifting trend towards smart building solutions in line with strategic partnerships for infrastructural development will augment the industry potential.
Eminent players operating in the Underfloor heating actuator industry are:
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The above information has been provided for the following regions and countries: